AC Milan, of Italian soccer’s Serie A, have named Giorgio Furlani as their new chief executive to succeed Ivan Gazidis.

The club announced last week (November 9) that Gazidis would be stepping down on December 5 after four years at the helm.

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They have opted to make an in-house appointment, with Furlani having served as a member of Milan's board of directors since 2018. He will step down from the board to take up the position of chief executive.

Furlani has been credited with playing an “integral role” in the club’s success under previous owners Elliott Management, the US hedge fund.

He will work under Milan’s new ownership group RedBird Capital Partners after the US-based private equity firm took control of the Serie A champions in June and will report to chairman Paolo Scaroni.

Commenting on the appointment, RedBird founder and managing partner Gerry Cardinale said: "When RedBird Capital Partners agreed to become custodians of AC Milan, we spoke of bringing our expertise in sports, media, and entertainment to return the club back to the pinnacle of European football, where it belongs.

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“In Giorgio, we have the right chief executive to lead the club day-to-day and work closely with the RedBird team to make that vision a reality. Giorgio knows both the club and the city intimately and has established the trust and confidence of the team at Casa Milan over the last four years.

“This will enable him to transition to this new leadership role seamlessly so that we can keep our focus on the larger goals ahead of us. We have a clear vision for this next chapter in the AC Milan story, and the RedBird team will be hands-on owners in partnership with Giorgio and the full team at Casa Milan in realizing this vision."